Hikvision Financial Performance and Product Sales Examined

Author: John Honovich, Published on Aug 15, 2011

Chinese manufacturer Hikvision continues to grow rapidly and is now one of the largest video surveillance companies in the world. However, it is generally unclear who Hikvision is selling to and how much of what are they selling. In this note, we examine details of Hikvision's financial progress and breakdown sales to better understand the company's positioning.

Let's start with a review of key Hikvision metrics from their H1 2011 financial report (Chinese language only):

  • ** **** ***** *** ~$* ******* ***, ************* $*** ******* USD. ****** *** **** ** **** $*** ******* ***.
  • ***** ****** **** **** **** ** **** ***** **% - a ******* ****** ***** ***** ******* ***** **** *******
  • ***** ****** ** $*** ******* ***, ************* $*** ******* ***. Profit ****** ** ~**% - * **** **** ****** *** the ******** (***** **% ** ********** ***** ****)
  • ********** ***** *****: ***** ******* ** ** *** ** ** *** *** share, ***** ***** *** ***** **% ** ** *** *** share
  • ****** ************** ** **** $* ******* *** ***% ******* **** Axis ***** *** * ****** ********* ** ~$*.* ******* ***

********* ** ********* ***** *****, ****** ****** *** ********** **** profitable. ***, ********** ****, *** *** ********* ***** *** ******* ********* ***** ***** future, ********* ** ****** ** *******.

*** ******** *** *********, ***** ******* **** ** ** **** are ******* *** ** ****. *** **** ****** ******** **** key ***** *******:

  • ***** **% ** ********* ******* ***** **** **** *** ******** like *********, *******, ***. - ~$*** ******* *** *** ****
  • ***** **% ** ********* ******* ***** **** ***** *** ********, i.e., ******* - ~$*** ******* ***
  • ***** *** ******* **** **% ******** ** **** **** (** from ~$*** ******* ** $*** *******) ***** **** *** ******** only **** ~**%
  • ***** ****** ***** ********* *** ~**% ** ********* ******* ***** International ***** *** **** **** **%. ***** ***** **** ** nearly **% ************* ********* ************* ***** **** **** ~**%

***** ********* ****** *** ******** ** ********* *******, ******* ***** are ******* **** ****. *******, *** ************ ******** ** *** Hikvision ***** *** ** ***** *** **** ********** ** ******** growing. ** * ******* ******** ********, ********* ** ** */* Billion *** *** ** ** ************* ********, *** ****** ** about $*** ******* ** * ****** *******. ***** ***-***** ***** are ** ******* ****** ** ****, ***** *** ****** - sizeable ********* *** *** ********** **** ****, *****, *********, ***.

*** ***** ******** ** ***** *** / ******* ***** ** very ***********. ********* ** **** ***** *** *** **** ******* **** ********* ***** ** ** *********** **** ** ***** *** *******. However, **** **** ** **** **** ** *** ** ***** cameras, *********** ******* ******** ****** **** ******* *** **** **** ******* ************ *********** ******** **** *****.

***********, ********* ** ** ********* ******* ** ***** *** *** company's ******* ******* **** ****** ** ******** **** * *********** of *** ***** ******* ******* / ****** *******.

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